EQT pulls Springer Science sale

In October 2012, the owners were reported to have hired investment banks to solicit offers and identify IPO opportunities on the Frankfurt stock exchange for the first half of this year.

They hoped to raise up to €4bn for the publisher, with reports suggesting the GP hopes postponing the sale to later in the year will help improve returns.

EQT acquired the firm from incumbent owners Candover and Cinven in 2009 in a buyout valued at €2.3bn. The sale process began in March 2009 and saw EQT's fund EQT V bag 82% of the company's equity, while Singaporean sovereign wealth fund GIC (Government of Singapore Investment Corporation) held the balance.

EQT's £1bn financing package was arranged and underwritten by Goldman Sachs International, Unicredit Group, Barclays Capital and Deutsche Bank.

EQT was not immediately available for comment. 

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